Ashok Leyland, the flagship company of the Hinduja Group, announced on Monday that it has partnered with Mahindra First Choice Wheels to enter the used commercial vehicle market. In this regard, the company has signed an MoU with Mahindra First Choice Wheels Ltd (MFCWL).
As part of the partnership, the phygital platform will facilitate the exchange, proper disposal, and purchase of old commercial vehicles. According to a statement, the commercial vehicle manufacturer's entry into this segment aims to streamline the used vehicle market by leveraging its digital ecosystem, existing and potential channel partners for physical interactions in over 700 parking yards across the country, and other advanced technologies.
The business would bring greater transparency into this market through effective and efficient processes, expanding alternatives to minimise the number of outdated vehicles travelling India's highways, Ashok Leyland said in a statement. "It's an exciting time for us as Ashok Leyland joins forces with MFCW to offer more options to our customers, combining our CV expertise with MFCW's yard expertise and digital ecosystem. We feel that this partnership would add value to our clients "Sanjeev Kumar, Ashok Leyland's Head of MHCV, stated.
Due to the increase in the waiting period for automobiles and financial constraints, the pre-owned or re-purposed vehicles sector has seen exponential and constant growth since the beginning of the pandemic.
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